! Required information [The following information applies to the questions displayed below.) On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,110 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $ 14,550 Cash withdrawals by owner 12,940 Consulting revenue 2,400 Rent expense 45,860 Salaries expense 17,020 Telephone expense 7,820 Miscellaneous expenses 83, 110 $ 1,120 12,940 2,640 5,920 800 620 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet Assets Equity Expenses Liabilities Revenues Withdrawals 0 $ $ 0